Prepare a large cookie sheet with parchment paper and set aside.
In a large mixing bowl, combine sugar cookies, cream cheese and vanilla. Blend using an electric hand mixer for 2-3 minutes or until well blended and smooth.
Using a 1 inch cookie scoop, scoop cookie mixture and roll into 1 - 1-½ inch balls. Use the palms of your hands to smooth and round each ball. Do this until the mixture is completely used.
Place each truffle ball on the sheet of parchment paper and place inside the refrigerator for 1 hour.
About 5-10 minutes before the chilling time is complete, begin to prepare your melting chocolate by first adding the wafers to a large bowl.
Next, place that bowl over a stovetop pot containing 2-3 inches of water. Bring water to a boil, creating a double boiler.
Stir the wafers frequently using a rubber spatula as the chocolate melts. Add the crisco and continue to stir until the chocolate is smooth, silky and fully melted. When done, remove from heat.
Using two forks or dipping tools, dip each truffle ball into the melted chocolate, covering it completely. Roll the ball, working it into the chocolate to cover it completely.
Place each chocolate covered truffle on parchment paper and top immediately with sprinkles.
Repeat this process for all truffles.
Allow to chill for an additional 20 minutes before serving.